TD Cowen Increases Frontier Group (NASDAQ:ULCC) Price Target to $4.00

Frontier Group (NASDAQ:ULCC) had its target price raised by equities research analysts at TD Cowen from $3.00 to $4.00 in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target points to a potential downside of 10.91% from the stock’s current price.

Several other equities research analysts have also commented on ULCC. Barclays dropped their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Susquehanna decreased their price objective on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Citigroup reduced their target price on shares of Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Finally, Bank of America reduced their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus price target of $5.92.

Frontier Group Price Performance

ULCC opened at $4.49 on Monday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -37.42 and a beta of 2.49. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The company’s 50-day moving average price is $3.70 and its 200 day moving average price is $5.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. Frontier Group’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, sell-side analysts expect that Frontier Group will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Frontier Group by 11.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after purchasing an additional 2,746 shares during the period. Arizona State Retirement System lifted its position in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after buying an additional 3,521 shares in the last quarter. Rhumbline Advisers lifted its position in Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after buying an additional 3,543 shares in the last quarter. XTX Topco Ltd lifted its position in Frontier Group by 10.6% in the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after buying an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after buying an additional 4,279 shares in the last quarter.

About Frontier Group

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.